Phillip Securities upgraded Apple (AAPL) to Neutral from Reduce with a price target of $260, up from $230. The firm cites “strong” growth in iPhone 17 and the long-term monetization potential from Apple’s collaboration with Gemini, which it believes strengthens Apple Intelligence and supports sustained ecosystem engagement, for the upgrade. However, Phillip remains cautious on the stock, saying Apple is still in a “prove-it” phase as memory costs rise.
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